AUSTIN (Talk1370.com) -- Rising crude oil prices and demand are contributing to a rise in Austin-area gas pump prices, according to AAA Texas' Weekend Gas Watch.
The average price for a gallon of regular unleaded fuel in the Austin-San Marcos metro area is $2.86 this week, up seven cents from last week and $1.02 higher than a year ago.
Across the state, drivers are paying an average of $2.87 a gallon. That's up five cents this week and $1.01 from last year. Nationwide, drivers are paying an average of $3.24 a gallon, which is also up five cents this week and $1.06 higher than a year ago.
Despite the increase, Texas drivers are paying the least in the country on average. Drivers in El Paso are paying the most in the state, at an average of $3.17 a gallon, while drivers in Sherman are paying the least at $2.79 a gallon.
According to the latest data from the Energy Information Administration for the week ending October 1, the U.S. gasoline demand number increased week-to-week and remains elevated from this time last year. Weekly regional fuel supply numbers fell slightly, and Gulf Coast refinery utilization registered up from the week prior. Drivers may see gas prices on the rise as crude oil prices had been increasing earlier this month due to the global economic uncertainty and supply chain concerns caused by the lingering COVID-19 pandemic.
"Crude oil prices have been driving up the price for gasoline recently as demand for fuel products has remained strong," said AAA Texas spokesperson Joshua Zuber. "However, there may be some relief on the horizon as U.S. crude stocks increased last week."
